ShippingWatch

Wallenius Wilhelmsen pleased with sliding profit in flat market

Declining rates in a flat shipping market dragged down Wallenius Wilhelmsen's maritime business in the fourth quarter, though the CEO still describes it as "satisfactory." Profit for the full year took a big dive.

Photo: Wallenius Wilhelmsen PR

Wallenius Wilhelmsen's maritime business reports an operating profit, EBITDA, of USD 152 million for the fourth quarter 2018, corresponding to a 5 percent decrease compared to the previous year's adjusted operating result, shows the Norwegian shipping group's fourth quarter interim report.

The results were negatively impacted by a "planned reduction in contracted HMG volumes, rate reductions (about USD 7 million), biosecurity challenges (USD 3 million), and weaker project cargo shipments in the Atlantic," writes Wallenius Wilhelmsen.

Read the whole article

Get 14 days free access.

No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Maersk Product Tankers expects 2022 to be "not an amazing year"

There’s no doubt that 2021 was a miserable year for the global tanker industry. But 2022 could end up strong, many parties say. Maersk Product Tankers is more doubtful. ”2022 won’t be an amazing year,” CEO Christian M. Ingerslev tells ShippingWatch.

Researcher criticizes TotalEnergies' fuel report

TotalEnergies ignores shipping’s climate adaptions in the company’s prognosis for shipping’s future fuel consumption, researcher says in criticism. Among other things, TotalEnergies supports LNG.

OOCL doubles revenue despite significant drop in volumes

Container line OOCL, owned by China’s Cosco, doubled its revenue in 2021, with the top line for Q4 alone surging by 101.4 percent, the carrier says. This major increase happens despite a dive in container liftings during the quarter.

Further reading

Related articles

Latest news

See all jobs